Good People, there used to be a more reasonable and nuanced Central Bank of Nigeria with the playbook to allow new things to happen, even when making sure commercial ordinances are protected. Cryptocurrency which I do not do, but which I believe that no country can stop at this point, promises a vista of something new. Banning it in Nigeria is not a smart strategy. Read this 2017 circular to see how we have evolved in our regulatory rascality. Yet, we do not know what moved the apex bank to make this call. Nonetheless, it would have been good if they said why!
See today’s notice.